Asianfin – BMW Group CEO Oliver Zipse has said that the European Union's plan to effectively ban the sale of combustion engine cars by 2035 will lead to a "significant contraction" in the automotive industry. In a preview speech at the Paris Auto Summit, Zipse warned that Europe is not yet ready to abandon gasoline and diesel engines, calling the EU's plan "no longer realistic." He also expressed concerns over the sustainability of subsidies for electric vehicles.